Abu Dhabi’s MGX funds Trump’s $100 Billion AI Plan
UAE’s MGX, led by Sheikh Tahnoun, joins OpenAI, SoftBank, and Oracle in Trump’s AI plan, reinforcing Abu Dhabi’s push for global artificial intelligence dominance.
Oracle to fivefold increase investment in Abu Dhabi on AI
Oracle plans a fivefold increase in investment in Abu Dhabi to meet rising AI and cloud demand, as global tech firms expand their presence in the Middle East.
UAE salaries to rise in 2025
Three-quarters of UAE employers plan salary increases in 2025 amid strong hiring and AI adoption, with rising competition for Emirati talent and long-term workforce investment.
Abu Dhabi’s ADQ plans to launch takeover bid for Aramex
ADQ’s Q Logistics Holding plans to acquire full control of Aramex with a $1.2 billion offer, aiming to strengthen its logistics portfolio amid strategic transformation plans.
UAE billionaire sees more investment from Gulf
Dubai-based billionaire Hussein Sajwani plans a $20 billion investment in US data centers, citing Trump’s pro-business policies as a key factor driving more Gulf investments in AI and real estate.
Two Hong Kong hedge funds expand Dubai operations
Welwing Capital and Jetha Global join global asset managers expanding in Dubai, leveraging the UAE’s tax benefits and rising status as a key financial center.
First Abu Dhabi to sell bad loans to Deutsche Bank
Deutsche Bank is set to acquire First Abu Dhabi Bank’s $800 million nonperforming loan portfolio, marking a rare major distressed debt deal in the Gulf region.
UAE VC funding falls as investors shift
VC funding in the UAE dropped 8% to $613 million in 2024, reflecting a regional trend of fewer late-stage investments and increased focus on early-stage startups.
UAE non-oil business activity growth picks up in December 2024
The UAE’s non-oil private sector expanded at its fastest pace in nine months, with rising demand and business activity driving a PMI increase to 55.4.
OPEC oil output falls in UAE in December
OPEC oil production fell by 50,000 barrels per day in December, driven by a sharp decline in UAE output due to field maintenance, while Iran also saw reduced production despite gains in Nigeria and Libya.